Wales' largest theme park shuts down after 40 years

Wales' largest theme park has announced it will shut down with immediate effect after almost 40 years.

Oakwood Theme Park in Pembrokeshire almost closed in 2008 but a £25m investment rescued the park, which employed up to 200 people according to its LinkedIn profile.

However, due to a drop in visitor numbers, the owners Aspro Park said "future investment is unsustainable" and it would not be opening for the 2025 season.

The company added: "All possible avenues have been explored to avoid the closure, and we fully recognise the impact of the closure on the local community and the loss that will be felt as a result."

The park added that "unrelenting economic challenges" from electricity costs, ride parts and food and drink inflation, as well as changes to national insurance thresholds affected the decision.

Aspro Parks said this was the first time it had closed a park or attraction in its "entire history".

It added: "Unfortunately, we could no longer see a sustainable way forward and will seek to improve our other parks using the assets and where possible team elsewhere."

The owners said they felt "sadness" for the loss of "a rite of passage for many young visitors".

The Treasury said, while it was a commercial decision, "we understand this will be a concerning time for workers at Oakwood Theme Park and their families".

It added that the Budget meant "more than half of employers will either see a cut or no change in their National Insurance bills".

Rollercoaster enthusiast and Oakwood superfan Ryan Hackett said he was "gutted" at the news of the closure.

Mr Hackett, 64, from Milford Haven, has been on the Megafobia ride at the park 6,200 times and was hoping to reach 7,000 rides over the coming season.

"As a rollercoaster enthusiast, it's the last thing you want to see - a park closure," he said.

"I just hope there's a buyer. I joked on social media earlier - can someone lend me £100m?

"My phone has been ringing all evening from other rollercoaster enthusiasts from all over the UK and everyone is devastated."

Samuel Kurtz, Carmarthen West and South Pembrokeshire Member of the Senedd, said the park's closure was "deeply sad" and it had a "special place in the hearts of many".

The Welsh government said: "We stand ready to offer support to the workforce affected by this decision."

First Minister Eluned Morgan urged Aspro Parks "to do everything possible to support their employees" including "exploring redeployment opportunities within their wider business".

The theme park made headlines across the UK in 2004 when Hayley Williams, 16, died after falling 100ft (30m) from the top of the Hydro rollercoaster.

An inquest into her death in 2006 heard a safety bar designed to restrain passengers as the ride plummeted down a near-vertical chute at 50mph had not been lowered before it started.

But an unlawful killing verdict was ruled out by a coroner who said there was no evidence of gross negligence by anyone involved.

But two years later Oakwood Leisure, which ran the park at the time of the accident, was fined £250,000 after admitting staff had failed to ensure passengers were safely restrained on the high-speed ride.

Analysis - Huw Thomas, BBC Wales business correspondent

The owners of Oakwood are not alone in criticising the impending rise in national insurance contributions and an increase in the living wage.

While the public sector awaits news of possible mitigation against the NICs increase, the private sector has had to prepare for the change and to adjust their budgets accordingly.

Faced with post-pandemic cost increases affecting products and services, companies and their lobby groups have warned that jobs will be lost as these latest rises come into effect.

The UK government insists the increase in national insurance contributions is vital to improve the funding of our public services.

In Pembrokeshire the impact of Oakwood's closure will hit the local economy, and there will be concerns about the economic winds which have shut the doors on what was once a titan of the Welsh tourism industry.